Archives for February 2009

Pre-approval process explained This information is of a general nature only and is intended to give you a brief overview of the pre-approval process.  Specific details relating to your loan and purchase will be provided at time of appointment. Loan Application: The first process is the loan application whereby we work out the options available to you, the rates, and products.  You then choose the lender and product, we collect all required information and then submit to the lender for their approval.  The turn around time for lender approval will vary between lenders from 2 days to 2 weeks depending on the time of year, market conditions, current specials and whether you are going for pre-approval or full approval. Conditional Approval: If the lender is happy with your application they will issue what’s called a ‘Conditional Approval’.  The approval is valid for anywhere from 3 to 6 months depending on lender.  A conditional approval generally means that the lender has… Read More